Karen Ward, an economist with JP Morgan, said that inflation might persist because of a price-wage spiral, where companies hike prices and workers demand pay rises. “The difficulty for the Bank of England – I mean, no one envies them their job at the moment – is they have to therefore create a recession,” Ms Ward, who sits on the Chancellor’s economic advisory council, told BBC Radio 4.
This story is from the June 22, 2023 edition of The Independent.
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This story is from the June 22, 2023 edition of The Independent.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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